Question

What is taxable income?

Answer 1

Taxable income is what you get payed minus the tax so if you have 20,000 dollars and they tax you you could have 15,000 basically it also varies on how much income you get basically it keeps everybody from getting rich though it goes into getting things like hospitals and other stuff

Answer 2

Taxable income is income after exclusions and deductions. The higher the taxable income, the more tax you will pay. Taxable income is usually less than total income.